Corning (NYSE:GLW – Get Free Report) had its target price raised by investment analysts at Susquehanna from $46.00 to $55.00 in a report issued on Friday, Benzinga reports. The firm presently has a “positive” rating on the electronics maker’s stock. Susquehanna’s price objective points to a potential upside of 23.60% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. UBS Group upped their price target on shares of Corning from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Mizuho raised shares of Corning from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $44.00 to $47.00 in a report on Wednesday, August 21st. Hsbc Global Res raised shares of Corning from a “moderate sell” rating to a “hold” rating in a report on Tuesday, July 9th. Barclays upped their price target on shares of Corning from $36.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Argus upped their price target on shares of Corning from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.00.
Get Our Latest Research Report on Corning
Corning Trading Up 0.2 %
Corning (NYSE:GLW – Get Free Report) last issued its earnings results on Tuesday, July 30th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Corning had a net margin of 3.53% and a return on equity of 12.69%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, analysts anticipate that Corning will post 1.91 earnings per share for the current year.
Institutional Trading of Corning
Institutional investors have recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. boosted its position in Corning by 800.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 900 shares of the electronics maker’s stock valued at $27,000 after buying an additional 800 shares during the period. Access Investment Management LLC purchased a new stake in Corning during the first quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its position in Corning by 347.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,060 shares of the electronics maker’s stock valued at $32,000 after buying an additional 823 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Corning during the first quarter valued at about $33,000. Finally, Register Financial Advisors LLC purchased a new stake in Corning during the first quarter valued at about $33,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.
About Corning
Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.
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